RBS Said to Seek Buyer for Unit That Manages Australian Schools

RBS, based in Edinburgh, has sold assets including bank branches and its credit-card payment processing unit after taking 45.5 billion pounds ($69 billion) of government funding during the 2008 global financial crisis. Photographer: Mike Wilkinson/Bloomberg

July 16 (Bloomberg) -- Royal Bank of Scotland Group Plc,
the U.K. lender shrinking its balance sheet after a government
bailout, is studying the sale of a unit that manages 11
Australian schools, said a person with knowledge of the matter.

RBS is working with Rothschild on the sale and preliminary
information has been sent to potential buyers, said the person,
asking not to be identified as the details are private. The
Axiom Education unit manages the schools in Victoria state and
was set up as a public-private partnership worth A$255 million
($234 million) in 2008, according to the unit’s website.

RBS, based in Edinburgh, has sold assets including bank
branches and its credit-card payment processing unit after
taking 45.5 billion pounds ($69 billion) of government funding
during the 2008 global financial crisis.